Daily News: September 16, 2014

WSJ: BNY Mellon Replaces U.S. Bancorp in Top Five Banks

Wall Street Journal reported Bank of New York Mellon has overtaken U.S. Bancorp for the fifth position of the country’s five largest banks. Since the financial crisis, the top five were consistently JPMorgan Chase, Bank of America, Citigroup and Wells Fargo.

According to WSJ, BNY Mellon’s total assets jumped 8.8% to $400.74 billion at the end of the second quarter from $368.24 billion in on March 31. U.S. Bancorp’s grew 6.9% to $389.07 billion in assets at the end of the quarter. It now ranks sixth.

To read the entire WSJ article, click here.